Mexico would reject the steel quota offer from the US

28 March 2019

Mexico would reject the steel quota offer from the US

(North America): Mexico is likely to reject any quota based trade proposal from the US for resolving trade issues, according to Mexico’s deputy economy minister.

Vietnam’s steel exports value increased by 5.8% in Q1 2019

(Asia Pacific): Vietnam steel exports reached $744 million in the first three months of 2019. The exports value increased by 5.8% compared to the same period in 2018, according to the General Department of Vietnam Customs. The US was the largest destination for Vietnamese steel with 19.64% share in the total steel exports during the period.

Steel Imports accounted for a 25% share in the US steel market in January

(North America): US steel imports reached 3.4 million tonnes in January 2019. The imports increased by 20.7% year-on-year, according to data public by Census Bureau data.

Myongshin to buy the closed GM plant in South Korea

(Asia Pacific): Myongshin, An EV auto parts supplier, signed a deal with GM to buy its closed Gunsan factory in South Korea. Myongshin will pay $99.5 million for the facility to GM and would further invest $76 million to produce 50,000 EVs annually by 2021 at the plant.